Viper Energy (VNOM): Revisiting Valuation After a Recent Share Price Rebound

Recent performance and what is driving interest

Viper Energy (VNOM) has quietly climbed about 6% over the past month and 8% in the past 3 months, even as its year-to-date return remains negative near 19%.

See our latest analysis for Viper Energy.

Zooming out, the $40.34 share price still sits below where it started the year despite a solid 1 month and 3 month share price rebound. This suggests sentiment is stabilising but not yet fully convinced by the story.

If Viper’s recent move has you thinking about where else momentum and quality might be lining up, this could be a good moment to explore fast growing stocks with high insider ownership.

With the share price still below its start-of-year level despite double digit revenue growth and a sizeable discount to analyst targets, is Viper Energy quietly undervalued, or is the market already pricing in its future expansion?

Most Popular Narrative Narrative: 20.4% Undervalued

With Viper Energy last closing at $40.34 against a narrative fair value near $50.67, the current setup leans toward upside in the long run.

The combination of organic production growth, especially from Diamondback-operated assets (projected to deliver 15% higher oil production per share in 2026 vs. 2025), and consistent share repurchases at currently depressed valuations, creates a powerful catalyst for per-share earnings growth and higher total shareholder return.

Read the complete narrative.

Curious how solid volume growth, shrinking margins and a punchy future earnings multiple can still add up to upside potential? See how the numbers connect.

Result: Fair Value of $50.67 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, concentrated Permian exposure and reliance on third party operators mean regulatory shifts or slower drilling could quickly undermine the upside case.

Find out about the key risks to this Viper Energy narrative.

Another Angle on Valuation

While the narrative suggests upside to around $50.67, the price to earnings picture is more cautious. Viper trades on 27.8x earnings, well above the US Oil and Gas average of 13.3x and a fair ratio of 18.6x, which hints at valuation risk if expectations slip.

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own Viper Energy Narrative

If you are not aligned with this view or prefer to dive into the figures yourself, you can build a custom perspective in minutes: Do it your way.

A great starting point for your Viper Energy research is our analysis highlighting 4 key rewards and 3 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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